Enterprise Bill [Lords]
Debate between Wendy Morton and Amanda Solloway(8 years, 3 months ago)
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Amanda Solloway
With the House’s permission, I will continue discussing the small business commissioner. Under the current system, payment disputes too often cannot be resolved without cases going to court. That costly process is limiting to small businesses and, if pursued, can lead to further financial pressures, making it a barely viable option to small business to have any kind of legal battle.
With my background in retail, I have often seen directly how late payments, often by larger and more robust businesses, can be crippling to small businesses. There may well even be a culture of large firms dragging their heels when it comes to making payments. What those firms disregard is how serious it can be to these small businesses not to make payments on time.
A recent study in Derby found that one in five businesses in the region is a victim of late payments, and that can be crippling.
Wendy Morton
These late payments can cripple small businesses. Does my hon. Friend agree that, when businesses are starting up, it can mean the difference between survival or not, and creating jobs or not?
Amanda Solloway
Absolutely, and what we need to do to boost our economy is to encourage these small businesses to get established and to flourish.
Therefore, this is an element of our business culture that must change. We must give advice and support to smaller businesses. The role of the small business commissioner will help to facilitate that. If as a country we are to continue to encourage enterprise and the entrepreneurial spirit, we must continue to do all we can to support small businesses and address the concerns and problems that hinder their performance.